Building Details

Year built 1960

Floors in Building 1

Number of units 2

Roof type Composition

Listing Agency: Keller Williams San Diego Metro · Keller Williams Realty a***@gmail.com Show Phone

Listed By: Christopher Spade · License #01785713 Show Phone

Added: Jun 9 Changed: Sep 18 Last Checked: Sep 20 at 5:06PM

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MLS# 260013924

Copyright © 2026 San Diego MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This multifamily property includes two separate, fully remodeled residences totaling approximately 1,950 square feet. The smaller home at 11305 Rocky Lane contains approximately 650 sq ft with 2 bedrooms and 2 bathrooms, while 11307 Rocky Lane provides approximately 1,300 sq ft, 3 bedrooms, and 2 bathrooms. Together, the dwellings offer 5 bedrooms and 4 bathrooms with distinct living areas on one parcel.

The property encompasses approximately 5 acres in Lakeside, within East County San Diego. Solar and septic serve the property, and both homes feature zoned heating and cooling. The residences were remodeled by the seller, a licensed general contractor. Access to Highway 67 and I-8 connects the property with Santee and El Cajon, while the Lake Jennings and El Capitan areas are nearby. The homes were built in 1960 and have composition roofs.

Key Highlights

• Two fully remodeled homes on one parcel
• Approximately 5 acres in Lakeside, CA
• Approximately 1,950 square feet across two dwellings

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$34,939

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

3.18%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$698,780 $698.8K

Cap Rate 7%

$499,129 $499.1K

Cap Rate 9%

$388,211 $388.2K

Market Conditions

NOI Build-Up for 1,950 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$52.7K $27.00/SF

− Vacancy

−$2.7K −$1.40/SF

EGI

$49.9K $25.60/SF

− OpEx

−$15.0K −$7.68/SF

NOI

$34.9K $17.92/SF

Area

San Diego County, CA

Vacancy

5.20%

Lease Rate

$27.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$698,780

Cap Rate 7%

$499,129

Cap Rate 9%

$388,211

Alternative Uses

Best Use

Multifamily LT 5

$499.1K

$436.7K – $582.3K (±1% cap)

NOI $34,939 @ 7.0% cap · market cap 3.18%

Second Best

Apartment 5plus

$462.9K

$405.0K – $540.0K (±1% cap)

NOI $32,400 @ 7.0% cap · market cap 2.95%

Theoretical Best

Office A

$893.4K

$781.8K – $1.04M (±1% cap)

NOI $62,540 @ 7.0% cap · market cap 5.69%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Building Supply Spa & Massage Center Big Box & Wholesale Store Kitchen & Bath Showroom Gym & Fitness Center Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

85

Businesses Nearby

Explore this area Business Placement

Demographics for 92040, CA

43,640

Population

16,147

Households

2.7

Avg Household Size

39

Median Age

25%

College-Educated

93%

High-School Grad

67.2 sq mi

ZIP Area

649

Density / Sq Mi

$103,585

Median Household Income

$49,413

Median Earnings

$1,908

Median Rent

$648,800

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this multifamily properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Multifamily property - Two remodeled dwellings offer flexible multigenerational living, guest space, or residential income use on an acreage parcel.

Where is this multifamily property located?

The property is located at 11305-7 Rocky Ln Lakeside, CA.

What is the asking price?

The asking price for this property is $1,099,000.

What are key features of this property?

This property features: Two fully remodeled homes on one parcel; Approximately 5 acres in Lakeside, CA; Approximately 1,950 square feet across two dwellings